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Loan Servicing Manager

Company: J.P. Morgan
Location: Newark
Posted on: May 3, 2021

Job Description:

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small business, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the worlds most prominent corporate, institutional and government clients under its JPMorgan Chase & Co brands. JPMorgan Chase & Co.is committed to providing a comprehensive set of benefits choices to meet different employee needs and lifestyles, which include choices such as Flexible Work Arrangements with periodic work from home and non-standard business hours, fully paid parental leave time, health care insurance and retirement benefits.

Commercial Banking serves more than 30,000 clients, including corporations, municipalities, financial institutions, and not-for-profit entities with annual revenues generally ranging from $20 million to $2 billion. The Firm's broad platform positions the Commercial Bank to deliver extensive product capabilities - lending, treasury services, investment banking, and asset management - to meet our clients' domestic and international financial needs.

General Summary:

This VP level role provides operational leadership to Commercial Bank for syndicated credit structures agented by JPMorgan or bilateral loans extended to a borrower solely by JPMorgan. This is a client facing role with direct contact with borrowers, lenders, and business partners while performing loan servicing facets. The manager of the team will manage 4-12 direct reports and be responsible for the performance of the team.

Essential Responsibilities:

  • Manage the day to day workflow for the team
  • Manage personnel including reviews, training, escalations, metrics and compensation
  • Approve loan activity (fundings, repricings, payments) as instructed by the client in accordance with credit agreements
  • Calculation and tracking of complex interest and fee accruals at various rate levels across changing lender distributions
  • Guide the staff to reconcile daily funding and payment activity to account for all daily cash transactions
  • Read and interpret complex legal credit agreements and related documentation working with attorneys when applicable
  • Monitor and escalate past due principal, interest, and fees to ensure that the loan accounting system is accurate and provide clients timely and accurate invoices
  • Provide information as requested by Clients, Business Partners, Middle Office, or Lenders
  • Monitor control reports and hold staff accountable for clearing items or updating comments
  • Answer escalation requests from the account managers to perform quality control on new deals, restructures and amendments by thoroughly understanding the credit agreement verifying system set up accuracy
  • Back up senior operations leadership as necessary
  • Help develop a culture of inclusiveness, accountability and motivation

Minimum Requirements:

  • Education: Minimum undergraduate degree from an accredited university, preferably majoring in accounting, finance, economics, or mathematics. Related job and industry experience may be accepted as a substitute
  • 10 years of financial services experience, minimum 3 years bank loan experience
  • General to intermediate accounting knowledge
  • Ability to manage concurrent assignments in an effective, efficient, and organized manner
  • Ability to work independently within a team environment
  • Excellent oral and written communications skills and strong interpersonal/client servicing skills
  • Strong analytical, problem solving and proven decision-making skills
  • Experience with reading and interpreting loan documentation or related experience dealing with legal documentation is preferred
  • Prior supervisory experience mandatory, prior management experience a plus

Keywords: J.P. Morgan, Newark , Loan Servicing Manager, Other , Newark, Delaware

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